Website building platform Wix (NASDAQ: WIX) will be reporting results this Tuesday before market hours. Here’s what investors should know.
Wix beat analysts’ revenue expectations last quarter, reporting revenues of $563.1 million, up 14.9% year on year. It was a favorable quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a narrow beat of analysts’ billings estimates.
Is Wix a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wix’s revenue to grow 12.1% year on year, slowing from the 13.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Wix has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Wix’s peers in the e-commerce software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Commerce’s revenues decreased 2.1% year on year, beating analysts’ expectations by 1%, and GoDaddy reported revenues up 6%, topping estimates by 1.1%. Commerce traded up 4.9% following the results while GoDaddy was also up 10.7%.
Read our full analysis of Commerce’s results here and GoDaddy’s results here.
Investors in the e-commerce software segment have had fairly steady hands going into earnings, with share prices down 1.2% on average over the last month. Wix is up 2.6% during the same time and is heading into earnings with an average analyst price target of $80.15 (compared to the current share price of $76.08).
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